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TMI Blog2015 (10) TMI 13X X X X Extracts X X X X X X X X Extracts X X X X ..... provision of doubtful advance of Rs. 38,54,270/-. 3. Counsel for the assessee at the outset submits that disallowance which was made by the Assessing Officer towards provision for doubtful advance of Rs. 38,54,270/- has already been added back by the assessee in its computation of income filed for the assessment year under consideration. He invited our attention to page 5 of the paper book which is computation filed for the assessment year 2006-07 and submits that assessee has disallowed Rs. 69,66,588/- under section 36(1)(vii) of the Act. Further referring to page 6 of the paper book which is schedule 12 of the balance sheet i.e. administration and other expenses, counsel submits that the said amount of Rs. 69,66,588/- consists of provisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be not proper. The Assessing Officer while completing the assessment under section 143(3) read with section 147 of the Act disallowed provision for doubtful advance of Rs. 38,54,270/- rejecting the contention of the assessee that this amount has already included in Rs. 69,66,588/- which was disallowed by the assessee itself in computation under section 36(1)(vii) of the Act. The Assessing Officer's contention was that assessee did not object before the Tribunal with regard to disallowance of Rs. 31,12,318/- towards provision for doubtful debts made by the Assessing Officer. Therefore, he was of the opinion that since the assessee was not objected for disallowance towards provision for doubtful debts, he doubted the submission of the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Commissioner of Income Tax (Appeals) inadvertently mentioned that ground of appeal is rejected. 8. Counsel for the assessee pleads for similar direction may be given to the Assessing Officer to ascertain the submission of the assessee that carry forward business loss of assessment year 1998-99 is carried forward only upto the assessment year 2006-07 but not beyond that period. The Assessing Officer was wrongly under the impression that assessee carried forward the business loss of assessment year 1998-99 till the assessment year 2007-08. 9. Departmental Representative has no serious objection in giving similar direction to the Assessing Officer. 10. Heard both sides. Perused orders of lower authorities. Commissioner of Income Tax (A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... usiness loss of AY 1998-99 amounting to Rs. 2,47,88,896/- is disallowed." 6.2.1 On this issue the AR of the appellant vide his submission dated 03.06.2014 stated as under: The AO has wrongly understood that business loss of AY 1998-99 has been carried forward till AY 2007-08. We hereby enclose a chart showing the losses to be carried forward wherein it is clearly mentioned that business loss of AY 1998-99 has not been carried forward to AY 2007-08. We have also filed 154 petition before AD on 28.01.2014(copy enclosed). Till date it has not been disposed off. Based on the above submission we pray that appeal be allowed." 6.2.2 I have considered the findings of the Assessing Officer as well as the submissions made by the AR of the appel ..... X X X X Extracts X X X X X X X X Extracts X X X X
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